Answers to your insurance questions

Retail insurance has its own special considerations. Retailing consists of the sale of goods or merchandise, from a fixed location such as a department store or kiosk, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businesses.

A retail business owner may be the sole employee or have large numbers of employees. The business may be something where the goods sold are subject to damage by heat or spoilage. It can be a small shop to a super-store in a mall.

Your safety program, human resources procedures and data storage and preservation will need to be considered. Do you own or rent your building? If you rent then what is the requirements of your lease? Do you have a hold harmless agreement within your landlord/tenant wordings?

How unique is your product? Do you have seasonal stock variance? How quickly would you need to be back in business if you had a fire? Would you need to have some coverage for your employees wages? Do you have key personnel?

It is recommended that you review your options for coverage and choose what is best suited for your individual needs.